By Andy Sher
NASHVILLE Legislation that would boost economic incentives for companies creating mid-size businesses in Tennessee cleared a major hurdle today, passing the Senate Finance Committee on a 10-0 vote.
Its very significant to move it out of Finance, said the bills sponsor, Sen. David Fowler, R-Signal Mountain. Now we can move it to the floor.
The legislation is expected to help Hamilton County and other communities in their efforts to lure companies interested in building Tennessee facilities smaller than so-called mega projects.
The bill would reduce the amount of investment and jobs required to trigger a $5,000-per-job tax credit. Instead of requiring investments of $500 million to $1 billion, it would enable companies investing $100 million to qualify for such tax credits if they create at least 220 jobs.
E-mail Andy Sher at firstname.lastname@example.org
See tomorrows Chattanooga Times Free Press for full coverage.